【title】The Experiment of Cross-border Trade Settlement in RMB and the Development of RMB Business in Hong Kong and Macao
【author】Chen Hongquan and Cao Longqi（China Center for Special Economic Zone Research; Shenzhen University; Shenzhen 518060; China）;
【Author Affiliations】 China Center for Special Economic Zone Research
【source】The Journal of Guangdong University of Finance,2009( 06)
【key words】settlement in RMB; RMB internationalization; Hong Kong; Macao;
【abstract】With the movement of trade and economic exchanges closer among Hong Kong,Macao and the Mainland,under the impulse of relevant policy,RMB business continues to expand in Hong Kong and Macao.But because of the one-way transaction of RMB among Hong Kong,Macao and the Mainland,etc.in recent years,the RMB business in Hong Kong and Macao continues to slow down the pace of development.The experiment of cross-border trade settlement in RMB is the major strategic decision,which China chooses to cope with the global ...